Interview: Q&A with Ilan Levi, Co-Founder and CEO of M-Adas, at Insurtech Israel News
Question: What does M-ADAS do?
Humpty-dumpty walks into his local insurance claims department. After thoroughly reviewing his case, the clerk politely replies, “I am sorry Mr. Dumpty, but gravity is a pre-existing condition”. We in M-ADAS believe that this could be solved.
Our unique line of product's based on simple, affordable and groundbreaking technology is targeting one specific battle against gravity which is the risk of rollovers in large trucks and overturning in motorcycle's.
Just to put things in prospective, in the publications Insurance Institute for Highway Safety, IIHS is showing that 47% of fatalities in trucks related accidents is due to rollovers.
Question: How did you came up with the idea? (What is the story behind it?)
So, like all good developments this idea came from a personal need. As a lifelong motorcycle rider, I was always amazed that such a deadly problem didn't had any efficient solutions in the market and the more I dived deeper and deeper into the subject, I saw how big is the need for such a solution.
According to the HSE research that conducted in the UK, at least 20% of all fatalities in working vehicles is a result of overturning.
Question: Who are your clients?
Our prospective clients are the insurance companies, the vehicles manufacturers and the operating companies that are looking for a product that can significantly reduce the risk of overturning.
It is very important for me personally, also to be able to help small companies and individuals, so in the future we are planning to distribute an app-based product that will provide an affordable and efficient solution for these markets.
Question: How can your product help prevent accidents?
Our system is basically going to eliminate the human-factor that causes overturning.
The system constantly calculates the data of the road ahead, the angle of the upcoming curves and payload data, and alerts the driver if he is approaching too fast towards a curve. The alert can be in the format of a tune indication, voice alert and in the future can be assimilated into autonomous car systems as well.
Furthermore, we have also worked closely with academic experts to create the ultimate balance between reaction time and point of indication.
What is making your product different?
I think that this is perhaps the most important thing, because many companies are trying to solve this problem but our system differentiates not only in the technology but in the basic proception of the solution. Unlike other companies who are focusing on expensive sensor-based systems that are designed to intervene after a problem occurred, our system is focusing on preventing the danger in advance.
And lastly, because our technology is based on a unique algorithm that bring into consideration many elements like cargo behavior and “fluid mechanics” and not on a complicated sensors system, it will be much more affordable and more accurate.
Question: What can be the benefits for insurance company? How can your product help save money to the insurance company? How does your product improve the insurance product?
Our technology will benefit insurance companies in 2 fields:
Saving money: The IIHS indicates that trucks accidents are from the costliest accidents to the insurance market not only because of the cost of the car and the payload but also due to possible liability to any 3rd party damages. Our product can reduce almost completely the risk of overturning in trucks and motorcycles.
Question: What investments were made in the company so far?
Here, I would like to focus not on investments of capital but on investments of knowledge and information, because I think that these are the kind of investments that makes our company so unique.
For example, in the past year we were privileged to be able to collaborate with leading researchers in the Technion university and with industry leaders, that believes in our product's ability to save lives. And together we are currently completing a large-scale pilot design to test and adapt our system in a large variety of drivers’ vehicles and terrains.
Question: Tell me about your professional background and about other key figures in the company
We at M-ADAS are a group of experts from different fields, from programing to data analysis, alongside leading experts from the academic field. The basic thing I think that bring us together, is the opportunity to build a company that will not only generate profits but will also save lives.
Question: can your product help with autonomic cars?
Certainly, our system can help autonomic cars not only in preventing overturning but also since our system is not dependent on visual sensors, it can compensate on some of the difficulties of autonomic cars such as operating on low visual terrains.
Question: Do you work directly with private customers also?
We are currently focusing on our productive calibration with industry leaders but as I pointed out before, some of our platforms can be directly purchased by individual customers as well as businesses.